Tango Gameworks is the developer behind The Evil Within and they are supposedly going to share an announcement of their new project soon.
This new game is rumored to be Hi-Fi Rush and it is a smaller-scoped game in the same vein as Pentiment from Obsidian. This was discovered as part of a trademark that was registered by Microsoft and then later hinted at by various insiders.
The newest update for this project comes from the trustworthy BillbilKun who has accurately leaked multiple announcements related to PS Plus, Xbox Live, and Epic Games Store in the past.
There was some concept art that was supposedly taken from this project and posted by an artist. It appeared to showcase a sci-fi environment and a female character holding a gun. Other map designs seemed to imply that this might be a live-service game like Bleeding Edge was from Ninja Theory, however, the links here are simply the concept art so it could be something else.
According to the leaker, this game will come in two editions. A normal edition as well as a deluxe edition. This is the case for Redfall as well which is supposedly out on May 2.
The game had a codename internally known as Project Hibiki and with the recent trademark filed by Bethesda Zenimax, it might be Hi-Fi Rush. The game has also been rated by ESRB and PEGI. It has received a Teen rating and PEGI 12.
The announcement is expected soon and will likely happen at the upcoming Developer_Direct which will focus on some of the announced and upcoming games from Xbox and Bethesda Studios. Since Tango Gameworks is part of Bethesda, their new game is well poised to get an announcement there. Their last multiplatform project was The Evil Within 2 which launched for PS4, Xbox One, and PC.